Glass City Federal Announces Merger Agreement with Libbey Federal Credit Union
Glass City Federal Credit Union is pleased to announce the completion of its merger with Toledo-based Libbey Federal Credit Union. The Libbey Federal membership was given the opportunity to vote on the proposed merger by absentee ballot and at a special membership meeting. Based on the overwhelming results of this vote, the merger was passed by the Libbey Federal membership.
Effective Monday, November 2, 2015, Libbey Federal was officially merged into Glass City Federal Credit Union. All Libbey Federal assets and liabilities have been transferred to Glass City Federal, and all Libbey Federal members will become members of Glass City Federal.
While both credit unions are financially sound with a strong capital base, Glass City Federal’s field of membership and full array of accounts and services provides even greater efficiencies for the new Libbey Federal members. Glass City Federal now has assets of nearly $200 million and over 24,000 members. Glass City Federal continues to operate five northwest Ohio branch locations in Maumee, Toledo and Bowling Green.
Glass City Federal President and CEO Mark Slates states, “We are pleased to welcome Libbey Federal members and employees into the Glass City Federal family.” He adds, “We look forward to providing our extensive member benefits to these new members and their families.”
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Shared Branching
Glass City Federal Credit Union is part of Shared Branching—a network of credit unions across the country that actually shares their branches with each other. As a Glass City member, you can use any other participating credit union’s branch for most deposits, withdrawals, loan payments, transfers, and other transactions.
